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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
.jpg) The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much higher. The Baltic Dry Index move forward to surpass the 3,000-point once again and end the week at 3,009 points. According to Weberseas’ latest weekly report “improving rates are pushing the indices upwards albeit at a steadier pace. All the market indices have finished the week positively with increases between 1-4%” said the report.
It further added that no doubt there is solid demand from China and coupled with the continued congestion around the world's main loading/discharging ports we are seeing a supply/demand imbalance. “Worldwide congestion currently stands at around 31 million deadweight. Australia and Brazil are accounting for about one third of this. At Australia's loading ports there are 5.7 million deadweight of ships waiting (half of which are panamax bulkers with 40 odd of these ships stuck in waiting). The figure is slightly less in Brazil at 4.7 mill deadweight” said Weberseas.
As the talks continue between the Chinese steel mills and the major mining producers (BHP Billiton, Rio Tinto and Vale) more and more of the Chinese importation is done via spot fixtures from other areas with India getting the lion's share. This means that supramax and panamax bulkers are benefiting and presently experiencing strong freight numbers. Panamax bulkers seem to be benefiting the most at the moment from the congestion and we are seeing the BPI standing at a 25% premium over the BCI (4,034 and 3,071 respectively). Both the supramax and panamax segments have also been assisted by the good grain trading volumes.
But brokers remained cautious, as their primary concern is the fact that rising iron ore prices could hurt demand and hit cargo activity. Iron ore prices in Asia were rising throughout the week, continuing a rally that started last month, with high grade ores at their highest since August 2008, Reuters said in a report, adding that China has been buying Indian iron ore, shipped using supramaxes, bolstering rates on the smaller vessel market.
Analysts from Commodore Research indicated in another update on Chinese commodity demand that China’s restrictions on iron ore imports have forced spot ore prices to increase sharply. Chinese iron ore fixtures have remained relatively firm this week, ore fixtures were very low yesterday and on Monday - but today they have increased. Chinese ore demand continues to remain firm, and, so far, importers are not truly heading a call to boycott Australian and Brazilian iron ore. Spot Indian iron ore prices have increased to approximately $146/ton FOB, an increase of $22 (18%) from April 5.
Omar Nokta of Dahlman Rose stated that if the quoted Vale price is accurate, the dry bulk market could see significant upside in the coming weeks, as $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- The University of Queensland
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
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